Here in No. Virginia we are seeing lots of foreclosures and short sales.  A lot of the homes I have been seeing are in really bad shape. Some of the prices seem to be high for the condition. Buyers are taking longer to make decisions. Our unemployment is low, economy strong. What are you seeing in your area?

There are mixed feelings about the market right now.  I recently attended a Real Estate class where we discussed the issues causing the housing market situation here. In No. VA it is certainly not due to economic issues, we have low unemployment and a strong local economy.  The problem here is in consumer confidence.  Prospective buyers hear about problematic conditions in other regions and become afraid to make a move.

If you are a savvy buyer you should be taking advantage of our market.  Interest rates are at an all time low.  Granted it is a little harder to get a loan and you'll need a 680 credit score to get the best rates, but what an awesome market to buy a home.  Fairfax, Arlington and Loudoun home sales are stronger than those in Prince William County, which offers some great deals in the Prince William County area.

Any feedback?